Final Settlement Clause Samples
The Final Settlement clause establishes the terms and process by which all outstanding obligations, payments, and disputes between the parties are conclusively resolved at the end of their contractual relationship. Typically, this clause outlines the timeline for submitting final invoices, the method for calculating any remaining amounts due, and the procedures for addressing any last claims or adjustments. Its core function is to ensure that both parties have a clear, agreed-upon endpoint for their financial and legal responsibilities, thereby preventing future disputes or lingering liabilities after the contract concludes.
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Final Settlement. The Parties agree and acknowledge that this Compromise Agreement shall constitute a final settlement between the Parties. This Compromise Agreement resolves only issues addressed in the Compromise Agreement.
Final Settlement. Unless otherwise agreed in writing, these prorations are final.
Final Settlement. If OCWA ceases to operate the Facilities, there shall be a final settlement of all accounts with respect to the Annual Price and any other expenses incurred by OCWA and amounts owing by or to the Client under this Agreement, no later than ninety (90) days after OCWA ceases to provide the Services or thirty (30) days after OCWA has provided the Client with a final invoice, whichever comes later.
Final Settlement. As soon as administratively feasible after its resignation or removal as Trustee, the Trustee shall transfer to the successor trustee all property currently held by the Trust. However, the Trustee is authorized to reserve such sum of money as it may deem advisable for payment of its accounts and expenses in connection with the settlement of its accounts or other fees or expenses payable by the Trust. Any balance remaining after payment of such fees and expenses shall be paid to the successor trustee.
Final Settlement. Upon submission of the final request for payment, the time of final settlement for the Work shall be established and shall thereafter be advertised by two (2) publications of notice, the last of which shall appear at least ten (10) days prior to the time of final settlement. Final payment and settlement shall be made at the time of final settlement as advertised, or as soon thereafter as appropriate and practicable, in the judgment of the Owner. The Owner shall not authorize final payment until all items on the final punch list are complete, all operations and maintenance manuals accepted, all Owner training is complete, and all close out documents are filed with the Owner.
Final Settlement. No Charges shall be billed or reclaimed by either party from each other in respect of recovery of services provided for any period for which the Final Settlement Report has been produced by the Market Operator.
Final Settlement. If the amount of the Adjusted Purchase Price as set forth on the Final Closing Statement exceeds the amount of the Estimated Adjusted Purchase Price, then Buyer shall pay to Seller, within five Business Days after the Final Settlement Date, the amount by which the Adjusted Purchase Price as set forth on the Final Closing Statement exceeds the amount of the Estimated Adjusted Purchase Price, together with interest on such excess amount from the Closing Date until paid at the Interest Rate. If the amount of the Adjusted Purchase Price as set forth on the Final Closing Statement is less than the amount of the Estimated Adjusted Purchase Price, then Seller shall pay to Buyer, within five (5) Business Days after the Final Settlement Date, the amount by which the Adjusted Purchase Price as set forth on the Final Closing Statement is less than the amount of the Estimated Adjusted Purchase Price, together with interest on such deficiency amount from the Closing Date until paid at the Interest Rate. Any post-Closing payment made pursuant to this Section 3.4(c) shall be made by means of a wire transfer of immediately available funds to a bank account designated by the Party receiving the funds.
Final Settlement. The Incubatee is allowed to claim the Final Settlement after fulfilment of all its obligations due under this Contract.
Final Settlement. Although funds will be transferred and reflected in the To Account balance the same day the transfer was requested, final settlement will not occur until the next Bank Business Day as defined in the Hours of Availability, Banking Days and Cutoff Times Section of this Agreement.
Final Settlement. Within sixty (60) days after Closing, Buyer will cause to be prepared and delivered to Seller in accordance with customary industry accounting practices, the final settlement statement (the “Final Settlement Statement”) setting forth (i) each adjustment to the Purchase Price, as set forth in Section 1.4 (a), (b), (c) and (d), in final form showing the calculation of such adjustment and the resulting final purchase price; and (ii) providing a reallocation of certain costs and expenses paid by Seller with respect to the Seller Property (the “Final Purchase Price”). As soon as practicable after receipt of the Final Settlement Statement report but in no event later than ten (10) business days after receipt of such statement, Seller shall deliver to Buyer either (x) a written statement containing any changes that Seller proposes to make to the Final Purchase Price contained on the Final Settlement Statement, or (y) a written request for additional information from the operator of the Seller Property to verify the accuracy of amounts charged to Seller with respect to the Seller Property reflected on the Final Settlement Statement. Seller’s failure to deliver to Buyer a written report detailing proposed changes to the Final Settlement Statement, or a request for additional information, by that date shall be deemed an acceptance by Seller of the Final Settlement Statement as submitted by Buyer. If Seller requested additional information, Buyer will cooperate with Seller in the delivery and explanation of such additional information, and Seller will provide a written statement containing any changes that Seller proposes to make to the Final Purchase Price contained on the Final Settlement Statement within ninety (90) days following the date on which the additional information was requested. The Parties will cooperate with each other and endeavor to resolve any dispute regarding the Final Purchase Price within thirty (30) days after Buyer’s receipt of Seller’s proposed changes to the Final Settlement Statement. The date upon which such agreement is reached as evidenced by a Final Settlement Statement executed by both Buyer and Seller shall be called the “Final Settlement Date”. If the Final Purchase Price is more than the Closing Amount, then Buyer shall pay to Seller the amount in the aggregate of such difference by wire transfer in immediately available funds no later than five (5) business days after the Final Settlement Date. If the Final Purchase Price is less ...